Chinese gold market influenced by global market jitters

The recent plunge in gold prices has influenced the Chinese market. And analysts say the continuity of the price drop has rarely been seen in the past 12 years. While some are eager to sell off their gold products, others see it as a golden opportunity to increase their positioning of the precious metal.

At the Shanghai Futures Exchange, the most active gold contract for June delivery tumbled 7.55 percent, to settled at 276.38 yuan per gram on Tuesday. It's about a 30-percent drop compared with September 2011, when the gold price hit its highest level.

Meanwhile, some investors are seeing this as an opportunity to pick up some bargains. At one market in Beijing, the turnover reached 6-million yuan in just two hours. And the largest single deal volume hit 6 kilograms, reaching 2 million yuan.

Whether it's buying or selling gold - related businesses are seeing an influx of customers. Our reporter Ai Yang talked to market insiders to find out if the fever will last.